Angola Investment Fund mulls performance-based forgivable loans for entrepreneurs and small businesses
The Angola Investment Fund (AIF) Board of Directors are investigating similar programs that could offer entrepreneurs and small business in Angola a performance-based forgivable loan options when they are looking to grow.
Originally, The City of Angola created this investment fund for the specific purpose of supporting entrepreneurs and innovation in and around the City and to support the creation of highly-skilled high-wage jobs.
The board of directors realized that many entrepreneurs and small businesses still struggle with getting their idea going due to the commercialization of their idea or project.
Currently, the AIF accepts applications for low-interest loans up to $100,000. This new item of the original program would be an added incentive for entrepreneurs and small businesses to further grow with the City of Angola.
Isaac Lee, Executive Director of the SCEDC stated, "The City of Angola should be applauded for their foresight and implementation of the original terms to create this fund. This fund has already helped several local businesses grow and will continue to do so for many years to come. This additional element further illustrates the willingness for the City and our County to be competitive and attack growth of all kinds."